New Issue: JPMorgan prices $0.57 million 44.35% reverse convertibles linked to TiVo

New York, April 21 - JPMorgan Chase & Co. priced $0.575 million of 44.35% reverse convertible notes due June 24, 2010 linked to TiVo Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless TiVo shares fall below the protection price of $14.312, 80% of the initial price of $17.89, during the life of the notes and finish below the initial price in which case the payout will be 55.8971 shares of TiVo stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	TiVo Inc. (Symbol: TIVO)
Amount:	$0.575 million
Maturity:	June 24, 2010
Coupon:	44.35%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless TiVo shares fall below the protection price of $14.312, 80% of the initial price, and finish below the initial price, in which case 55.8971 shares of TiVo stock
Initial price:	$17.89
Protection price:	$14.312, 80% of $17.89
Exchange ratio:	55.8971
Pricing date:	April 20
Settlement date:	April 23
Agent:	JPMorgan
Fees:	1.75%, including 1% for selling concessions

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